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Tesla energyTesla partners with US utility to build li-ion battery energy storage facility in California PG&E will own the facility at its substation in Moss Landing, California, but the design, construction and maintenance operations will combine efforts by both by the San Francisco-based utility and the battery and electric vehicle …

Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the …

Iran’s new ambassador to Azerbaijan Republic on Friday stressed the need for promoting political and economic relations between the two countries. Upon arrival in Baku to start his mission as Iran’s new ambassador, Abbas Mousavi told IRNA, “I am very happy to start my work today in the neighboring, friend, …

The approximate value of the large gas reserve in the Black Sea which Turkey said it discovered earlier in the day is $65 billion, Turkish Energy Minister Fatih Donmez said on Friday. “The approximate value is $65 billion. We will be conducting the seismological exploration and drilling on our own”, …

Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) for a month to make up for their oversupply between May and July, an internal OPEC+ report seen by Reuters shows. That oversupply above OPEC+ agreed targets …

A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural …

The oil market has not yet stabilised, Iranian Oil Minister Bijan Zanganeh told state TV on Wednesday, but added that the measures implemented by OPEC have been successful in raising crude prices. “The market is not stabilised yet for several reason including the coronavirus outbreak … But OPEC has taken …

Libya, following the resumption of the operation of oil facilities, will export only oil accumulated in port terminals, crude produced at deposits will not be exported, Libyan National Army spokesman Major General Ahmad al-Mismari said. “The opening of oil facilities means exportation of only what is in the tanks, the …

Saudi Arabia redoubled its crusade for OPEC+ compliance Aug. 19, laying pressure on the alliance’s quota violators to make up for their excess crude production with deeper cuts in the coming weeks, in the name of fairness and market stability. Nigeria and Iraq, two of the biggest compliance laggards, received …

Oil declined from a five-month high in New York with the U.S. Federal Reserve and OPEC+ sounding caution on the demand recovery as many countries struggle to contain the coronavirus. Futures fell 1% toward $42 a barrel amid a broader rout in equities after minutes from the Fed said the …